Shine Resunga reports 31.43% rise in net profit amounting to Rs 19.9 crore in Q2; Networth per share stands at Rs 132.69

Sun, Jan 27, 2019 11:08 AM on Financial Analysis, Latest, Stock Market,

Shine Resunga Development Bank Limited (SHINE) has posted an increase in net profit of 31.43 percent in the second quarter of the fiscal year 2075/76.

As per the unaudited financial report for the second quarter published today, the development bank has stated that it has accumulated net profit of Rs 19.9 crore in the Q2 up from Rs 15.14 crore in the corresponding period of the previous fiscal year.

Its net interest income increased to Rs 40.99 crore in Q2 from Rs 30.31 crore in the corresponding quarter previous year. The bank has collected deposits of Rs 16.1 arba while it has mobilized loans and advances of Rs 14.52 arba in Q2. The deposit and loan amount stood at Rs 11.94 arba and Rs 10.49 arba respectively in the previous year corresponding quarter.

SHINE has a paid up capital of Rs 1.62 arba and reserve of Rs 53.05 crore.

Its Non-Performing loan (NPL) has remained stagnant at 0.17% in Q2. Its Earnings per Share (annualized) stands at Rs 24.53 and net worth per share stands at Rs 132.69. Its P/E ratio stands at 9.74 times.

Major Highlights:

Particulars (In Rs '000) SHINE
  Q2 2075/76 Q2 2074/75 Difference
Paid Up Capital 1,622,665 1,378,615 17.70%
Reserve & Surplus 530,490 420,632 26.12%
Deposits 16,102,372 11,944,783 34.81%
Borrowings - - -
Loans & Advances 14,523,683 10,492,602 38.42%
Net Interest Income 409,981 303,104 35.26%
Provision for possible losses 26,680 28,671 -7.46%
Operating Profit 310,883 219,776 41.45%
Net Profit 199,035 151,435 31.43%
NPL (%) 0.17 0.17  
Annualized EPS (In Rs.) 24.53 21.97 11.66%
Net Worth per Share (In Rs.) 132.69 130.51 1.67%
P/E Ratio (In times) 9.74